Signalized Corner Commercial
For Sale
Contact for pricing
12021 ASHEVILLE HWY, Inman, SC 29349
Commercial parcel with signalized access and frontage on two roads.
Property Size7,095 SF
Price / SF$380.55
Days on Market13
Property Features for 12021 ASHEVILLE HWY
General Information
Standard status
Active
Size
7,095 SF
Property subtype
Retail, Land
Building Details
Year Built
1946
Stories
1
Units
1
Listing Agency:
Spencer/Hines Properties Spartanburg
(864) 706-0189
Listed By:
Andy Hayes · License #SC 13179
Source:
Crexi
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 30 at 5:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Spencer/Hines Properties Spartanburg
Investment Insights
Based on property information with market context.
This commercial land offering encompasses 2.3 ± acres at a signalized corner intersection in Inman. The site has controlled access and substantial exposure along both Asheville Highway and Lyman Road, providing a prominent configuration for commercial development. The property is identified by Spartanburg County Tax Map # 1-44-06-148.00 and 1-44-06-148.01.
Approximately 18,800 vehicles pass the intersection daily. Interstate 26 is approximately 3 miles away, connecting the site with the broader regional roadway network. The parcel is positioned along Asheville Highway at Lyman Road, also identified as Highway 292.
Approximately 18,800 vehicles pass the intersection daily. Interstate 26 is approximately 3 miles away, connecting the site with the broader regional roadway network. The parcel is positioned along Asheville Highway at Lyman Road, also identified as Highway 292.
Key Highlights
- 2.3 ± acres of commercial land
- Signalized corner at Lyman Road (Highway 292) and Asheville Highway
- Controlled access at the intersection
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$81,619
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,632,380
$1.6M
Cap Rate 7%
$1,165,986
$1.2M
Cap Rate 9%
$906,878
$906.9K
Market Conditions
NOI Build-Up for 7,095 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$127.7K $18.00/SF
− Vacancy
−$11.1K −$1.57/SF
EGI
$116.6K $16.43/SF
− OpEx
−$35.0K −$4.93/SF
NOI
$81.6K $11.50/SF
Area
Spartanburg County, SC
Vacancy
8.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,632,380
Cap Rate 7%
$1,165,986
Cap Rate 9%
$906,878
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,619 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.51M
$4.82M – $6.43M
NOI $385,560 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
88k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Shops & Services 23%
McDonald's
Dining
30,707 visits/mo
0.1 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
21,151 visits/mo
0.2 miles
Circle K
Shops & Services
17,069 visits/mo
0.1 miles
Burger King
Dining
8,031 visits/mo
0.2 miles
Hardee's
Dining
7,446 visits/mo
0.2 miles
Demographics for 29349, SC
36,458
Population
15,118
Households
2.4
Avg Household Size
41
Median Age
22%
College-Educated
87%
High-School Grad
76.9 sq mi
ZIP Area
474
Density / Sq Mi
$74,363
Median Household Income
$42,604
Median Earnings
$917
Median Rent
$233,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial parcel with signalized access and frontage on two roads.
Where is this commercial land located?
The property is located at 12021 ASHEVILLE HWY Inman, SC.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 2.3 ± acres of commercial land; Signalized corner at Lyman Road (Highway 292) and Asheville Highway; Controlled access at the intersection
